Australia's oldest department store, David Jones, goes into administration after 188 years

One of retail's oldest names is in trouble. David Jones, Australia's oldest department store chain, has gone into voluntary administration after 188 years, putting thousands of jobs at risk, the BBC reports. The retailer, known locally as DJs, employs about 6,000 staff and has 38 stores, 17 of them in Westfield shopping centres. Hours before the board's vote, Westfield owner Scentre said DJs had not paid its October rent and was in breach of its tenancy. Stores and the online shop will keep operating while receivers FTI Consulting review the business. CEO Erica Berthold said the brand has a "well-developed plan" to "reset the business for the future." Christopher Hill of FTI cited rising costs, an outdated store footprint and supply chain problems. Online shopping keeps rewriting the map of retail fortunes.